Update on Global Steel Trade Data - 8 November 2024
8 November 2024: Turkish steel suppliers maintained high export volumes in September compared to the previous year, benefiting from increased competitiveness in Europe and North America. Meanwhile, China continued to focus on the Asian and Middle Eastern markets due to slow local demand.
Overseas steel shipments from Turkey rose by 17.7% in September year-on-year, while in January-September, the country's exports surged by 31.6%. At the same time, steel imports to Turkey increased by 4.8% year-on-year, as attractive prices for semi-finished products allowed mills to reduce production costs. However, during the first nine months of 2024, imports into Turkey fell by 12.5% due to weaker domestic consumption.
Finished steel imports to the United States increased by 7.9% as aggressive Chinese exports other Asian countries lowered their prices too.
| Country/Segment | Product | Period | Volume, MT | Y-o-y change, % | Volume YTD, MT | Y-o-y change, % | Source/Updated |
|---|---|---|---|---|---|---|---|
China | |||||||
| Production | Crude steel | Sep-24 | 77.1 | -6.1 | 768.5 | -3.6 | NBS, 18.10.24 |
| Production | Finished steel | Sep-24 | 117.3 | -2.4 | 1,044.5 | -0.1 | NBS, 18.10.24 |
| Export | Finished steel | Sep-24 | 10.15 | +25.3 | 80.71 | +21.2 | GACC, 15.10.24 |
Turkey | |||||||
| Production | Crude steel | Sep-24 | 3.1 | +6.5 | 27.9 | +14 | WSA, 22.10.24 |
| Export | Steel | Sep-24 | 1.3 | +17.7 | 9.8 | +31.6 | TCUD, 01.11.24 |
| Import | Steel | Sep-24 | 1.3 | +4.8 | 11.9 | -12.5 | TCUD, 01.11.24 |
| Import | Finished steel | Sep-24 | 0.7 | -26.3 | 6.9 | -20.8 | TUIK/ISSB, 01.11.24 |
| Germany | |||||||
| Production | Crude steel | Sep-24 | 3 | +4.3 | 28.4 | +4 | WV Stahl, 22.10.24 |
| Production | HR steel | Sep-24 | 2.6 | +7.9 | 24.3 | +3.2 | WV Stahl, 22.10.24 |
| Imports from non-EU | Finished steel | Aug-24 | 0.05 | -12.5 | 0.7 | -7.2 | Eurostat/ISSB, 17.10.24 |
| Italy | |||||||
| Production | Crude steel | Sep-24 | 1.8 | -8.4 | 15.1 | -5.6 | Federacciai, 17.10.24 Federacciai, 17.10.24 Federacciai, 17.10.24 |
| Production | Longs | Sep-24 | 1.1 | -5.4 | 8.8 | 0.5 | |
| Production | Flats | Sep-24 | 0.8 | -9.1 | 6.4 | -10.3 | |
| Imports from non-EU | Finished steel | Aug-24 | 0.4 | +13.9 | 5.1 | -7.0 | Eurostat/ISSB, 17.10.24 |
| USA | |||||||
| Production | Crude steel | Sep-24 | 6.7 | +1.2 | 60.3 | -1.6 | WSA, 24.09.24 |
| Import | Steel | Sep-24 | 1.9 | -2.4 | 20.2 | +2 | USCB, 05.11.24 |
| Import | Finished steel | Sep-24 | 1.5 | +7.3 | 15.7 | +3.1 | USCB, 05.11.24 |
| Global | Crude steel | Sep-24 | 143.6 | -4.7 | 1,394.1 | -2 | WSA, 22.10.24 |